The US economy gained 266,000 positions in November, far above expectations of 180,000.
The return of GM strikers to workers added fewer jobs than expected and revisions added 41K. Wage growth rose by only 0.2% monthly but surprised with 3.1% yearly. The unemployment rate dropped to 3.5% but it came on top of a drop in the participation rate.
The US dollar is rising across the board with EUR/USD falling to 1.1074. GBP/USD is down to 1.3121, and USD/JPY is above 108.80.
Follow all the Non-Farm Payrolls updates live
Here is how the move looks on the EUR/USD chart:
Non-Farm Payrolls figures
- Non-Farm Payrolls: 266K, expected 180K, previous 128K
- Average Hourly Earnings (YoY): 3.1%, expected 3%, previous 3%
- Average Hourly Earnings (MoM): 0.2%, expected 0.3%, previous 0.2%
- Revisions: +41,000, previous 95,000
- Unemployment Rate: 3.5%, expected 3.6%, previous 3.6%
- Participation Rate: 63.2%, expected 63.3%, previous 63.3%
- U-6 Underemployment Rate: 6.9%, previous 7%
- Average Workweek: 34.4, expected 34.4%, previous 34.4
November Non-Farm Payrolls background
ADP's Employment Change report for the private sector badly disappointed with an increase of 67,000. On the other hand, the employment component of the ISM Non-Manufacturing PMI indicated elevated hiring.
The NFP feeds into the last Federal Reserve decision of the year, due on December 11. The Fed is set to leave rates unchanged but may provide hints toward the next moves.
See Fed Preview: Is the bar higher for hiking? Powell's may down the dollar, three things to watch
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
EUR/USD extends recovery beyond 1.0400 amid Wall Street's turnaround
EUR/USD extends its recovery beyond 1.0400, helped by the better performance of Wall Street and softer-than-anticipated United States PCE inflation. Profit-taking ahead of the winter holidays also takes its toll.
GBP/USD nears 1.2600 on renewed USD weakness
GBP/USD extends its rebound from multi-month lows and approaches 1.2600. The US Dollar stays on the back foot after softer-than-expected PCE inflation data, helping the pair edge higher. Nevertheless, GBP/USD remains on track to end the week in negative territory.
Gold rises above $2,620 as US yields edge lower
Gold extends its daily rebound and trades above $2,620 on Friday. The benchmark 10-year US Treasury bond yield declines toward 4.5% following the PCE inflation data for November, helping XAU/USD stretch higher in the American session.
Bitcoin crashes to $96,000, altcoins bleed: Top trades for sidelined buyers
Bitcoin (BTC) slipped under the $100,000 milestone and touched the $96,000 level briefly on Friday, a sharp decline that has also hit hard prices of other altcoins and particularly meme coins.
Bank of England stays on hold, but a dovish front is building
Bank of England rates were maintained at 4.75% today, in line with expectations. However, the 6-3 vote split sent a moderately dovish signal to markets, prompting some dovish repricing and a weaker pound. We remain more dovish than market pricing for 2025.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.